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MIDEAST STOCKS-Saudi leads Gulf lower as China virus fears mount

3 hours ago NAMEX Comments Off on MIDEAST STOCKS-Saudi leads Gulf lower as China virus fears mount
* All Saudi Arabian banks decline * Emirates NBD drops on poor Q4 earnings * ADCB posts lower Q4 financials * 28 of thirty Egyptian stocks drop By Ateeq Shariff Jan 27 (Reuters) - Middle East stocks slipped, with Saudi Arabia hardest hit on Monday, mirroring drops in oil prices and global shares on concerns Read More

China extends Lunar New Year holiday to contain coronavirus as death toll rises

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China on Monday expanded sweeping efforts to contain a viral disease by extending the Lunar New Year holiday to keep the public at home and avoid spreading infection as the death toll rose to 80. Hong Kong announced it would bar entry to visitors from the mainland province at the center of the outbreak following Read More

METALS-Copper nears 8-week low as China virus death toll touches 80

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Jan 27 (Reuters) - London copper prices on Monday dropped to their lowest in nearly eight weeks as concerns over the economic impact of a new coronavirus grew after the death toll in China jumped to 80. On the London Metal Exchange , prices of three-month copper, widely used as a gauge of economic health, Read More

Exclusive: Regulator probes board role in Credit Suisse spying scandal – sources

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FRANKFURT/ZURICH (Reuters) – The Credit Suisse (CSGN.S) spying debacle risks tipping the bank into a crisis that could engulf its top executives. FILE PHOTO: CEO Tidjane Thiam (L) and Chairman Urs Rohner of Swiss bank Credit Suisse attend the bank’s annual shareholder meeting in Zurich, Switzerland April 27, 2018. REUTERS/Arnd Wiegmann/File Photo Switzerland’s market supervisor Read More

‘Cash is trash’, says billionaire investor Ray Dalio

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Investors shouldn’t miss out on the strength of the current stock market, according to the head of one of the world’s largest hedge funds Ray Dalio. He advises people to dump cash for a diversified portfolio. “Everybody is missing out, so everybody wants to get in,” Dalio told CNBC, referring to people who have been Read More

Stock market a ‘Ponzi scheme’ that eventually must collapse – Guggenheim

2 days ago NAMEX Comments Off on Stock market a ‘Ponzi scheme’ that eventually must collapse – Guggenheim
The rallying markets aren’t as good as they seem, says Guggenheim Partners chief Scott Minerd. He likened inflation of asset prices caused by loose money policies of central banks to a ponzi scheme that eventually must collapse. “We will reach a tipping point when investors will awake to the rising tide of defaults and downgrades,” Read More

French central banker says digital currency cannot be private

2 days ago NAMEX Comments Off on French central banker says digital currency cannot be private
FILE PHOTO: Governor of the Bank of France Francois Villeroy de Galhau delivers a speech to open a conference entitled “Bretton Woods: 75 years later” in Paris, France, July 16, 2019. REUTERS/Philippe Wojazer PARIS (Reuters) – Digital currency could be useful as cash transactions dwindle in some countries but central banks should be in charge Read More

Cyberattack on major bank could spread fast, new research shows

2 days ago NAMEX Comments Off on Cyberattack on major bank could spread fast, new research shows
One well-timed cyberattack on a major bank could spread rapidly throughout the American financial system, a new report concludes. According to new research from the Federal Reserve Bank of New York, experts and policymakers see cybersecurity as a major area of concern and something that could prompt widespread problems for the country. “We model how Read More

Watters: Dad who confronted Warren about student loan policy proved she’s ‘buying votes from debtors’

3 days ago NAMEX Comments Off on Watters: Dad who confronted Warren about student loan policy proved she’s ‘buying votes from debtors’
Jesse Watters said Friday that Sen. Elizabeth Warren, D-Mass., proved she was “buying votes” after the Democratic presidential candidate was confronted by an Iowa father who challenged her plan to forgive college loan debtors. “I think we all know when a father comes up to you and Dad is mad, and Dad has done the right thing and he is upset, you don’t Read More

Wall Street slides on coronavirus fears, Intel offers support

3 days ago NAMEX Comments Off on Wall Street slides on coronavirus fears, Intel offers support
(Reuters) – U.S. stocks fell on Friday, as investors were cautious heading into the weekend amid renewed concerns over the fallout of a coronavirus outbreak from China. Traders work on the floor of the New York Stock Exchange shortly after the opening bell in New York, U.S., January 24, 2020. REUTERS/Lucas Jackson Intel Corp (INTC.O) Read More